Cost of goods manufactured plus the finished goods, ending equals cost of goods sold.

Select one:

True

False

Business transactions are originally recorded chronologically in the ledger.

Select one:

True

False

Odd-man out: Select the word that does not belong to the group.

Select one:

a. Doubtful Accounts

b. Insurance Expense

c. Interest Expense

d. Prepaid Rent Expense

If the debit and credit columns of a trial balance have the same totals, the recording and posting of entries are all guaranteed correct.

Select one:

True

False

Consist of all product cost and goods in process completed during the period.

Select one:

a. Debit Memorandum

b. Income Statement

c. Cost of Goods manufactured

d. Merchandising